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WYG remains independent as it reports 34% profit increase

Consultant WYG has rejected offers to buy the business after it put itself up for sale as part of a strategic review in January.

The decision was announced when the group reported its financial results to the end of March 2015.

Bids had been received but did not value the organisation highly enough, it was stated. “The strategic review reaffirmed WYG’s differentiated business model and growth strategy including its strength and quality of future opportunities,” WYG said.

“We concluded that an appropriately funded independent group is the best route to optimising value for stakeholders.”

The company has now taken up a new £25M committed facility with HSBC to enable investments in the future. And it announced that it has bought the 17 strong, £1.6M turnover FMW Consultancy which specialises in transport planning. This follows the purchase of Alliance Planning in September last year.

Revenues at WYG were up 3% for the year to £130.5M, with pretax profit up 34% to 5.7M.

The order book is up 21% to £105M and split in workload is pretty even 35% with the public sector, 33% private and 32% international.